Stock Alert: Avenue Therapeutics Jumps 16%

(RTTNews) - Shares of specialty pharmaceutical company, Avenue Therapeutics, Inc. (ATXI) are surging more than 16% Thursday morning after the company provided a regulatory update following receipt of the official meeting minutes from a November 2020 Type A meeting with the FDA relating to a path forward for its intravenous tramadol.

The company today said it plans to resubmit the NDA in February 2021, barring any Covid-19 related or other setbacks.

Avenue had requested this Type A meeting to address a Complete Response Letter (CRL) it received from the FDA regarding the New Drug Application (NDA) for IV tramadol.

Intravenous tramadol is a potential alternative to conventional opioids, for patients suffering from acute pain.

ATXI, currently at $4.29, has been trading in the range of $2.85- $12.34 in the last one year.